Research report explores the Kombucha Market will be valued at US$ 6,543.8 Mn by 2027
Added: (Tue Jun 18 2019)
Kombucha is a fermented tea that is gaining attraction as a functional beverage, due to its health aiding benefits. Kombucha is prepared from the cultures of bacteria and enzymes, and thus acts as a probiotic, and helps in improving body functioning and improving the digestive health of the body. Besides, it is also used as an energy booster and mood enhancer. The rapid popularity of kombucha is also attributed to its fizzy taste and unique flavour, which helps it stand out among the other beverages available in the market. Kombucha is expected to give tough competition to its opponents, owing to the dual benefit of the drink, one being its taste and the other its functional properties, which is referred to as the ‘Elixir of Life’.
In terms of value, the global kombucha market is expected to reach a market value of US$ 6,543.8 Mn by the end of 2027, with an expected CAGR of 16.6% over the forecast period 2018 - 2027. The driver for the growing demand for kombucha is the rising trend for organic food and beverages in the market. The sales of organic food and beverages are hitting an all-time high, because people are becoming more and more aware and health conscious, and are thus preferring organic products and products produced using organic ingredients. Kombucha is an organic beverage, and hence, is expected to register significant market attraction. One of the other factors driving the growth of the kombucha market is the growing demand for healthy and nutritious drinks. Consumers are interested in the functionality and nutritive value of their beverages, and thus, are getting inclined towards functional drinks such as kombucha. Besides, the rising demand for energy drinks is driving the market for kombucha, as kombucha is one kind of energy drink that contains energizing B, which helps in enhancing oxygen flow in the body. These factors are responsible for driving the growth of the kombucha market.
North America and Europe are Key Markets for Global Kombucha Market Revenue
The North American region, followed by Europe, are anticipated to provide significant growth to the global kombucha market. The kombucha market in North America is expected to expand at a CAGR of 15.2% over the forecast period, to reach a market value of US$ 2,089.6 Mn by 2027. Europe is expected to account for a market share of 34.0% in 2018, becoming the second-largest contributor for the growth of the kombucha market. The kombucha market is expected to witness lucrative growth in the APEJ region, with this region expected to witness a CAGR of 18.5% over the forecast period.
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Segmental Overview of the Global Kombucha Market
By flavour segment, unflavoured/regular kombucha is anticipated to account for a market share of 27.6%. However, flavoured kombuchas are gaining popularity due to innovative tastes and flavours, and are expected to account for a greater share of spending compared to unflavoured kombucha. The herbs & spices flavour segment of kombucha is anticipated to grow at a CAGR of 18.0% over the forecast period, followed by the berries flavour segment. Manufacturers are offering different ingredients and flavours for kombucha to attract a larger consumer base. On the basis of sales channel, the kombucha market is anticipated to be dominated by the food and drink specialty stores segment, which is anticipated to register a growth rate of 21.9% over the forecast period in terms of value. In terms of packaging, the glass bottles segment is expected to account for a market share of 72.6% in 2018 in revenue terms. However, the cans segment is expected to have better market prospects, and is expected to grow at a CAGR of 22.6% over the forecast period.
Scope of the Kombucha Market
Manufacturers are making investments to advertise and promote their kombucha brands. For the same, they are using platforms such as social media, including Instagram, Facebook, and others. This is helping them gain attention and the interest of consumers towards their product offerings. Besides, manufacturers are being innovative in producing multiple options in kombucha flavours by playing around with ingredients or adding flavours such as berries, lemon, ginger, coffee, fruit, and many others. For instance, in May 2017, GT’s Kombucha introduced three new flavours - basil, watermelon, and coffee lovers.
The kombucha market can rise even more rapidly with the interplay of technology and innovation in its production process. Improved and optimized fermenters can help reduce inefficiencies during the fermentation of kombucha. Advanced machinery for bottling can improve time efficiency, and can reduce the manual labor required for the production of kombucha.
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Activities by Key Players in the Kombucha Market
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In 2018, Starbucks Corporation started offering kombucha under its brand Evolution Juice. The company is offering kombucha in six different flavours.
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In 2018, RISE Kombucha, the first and chief Canadian kombucha company, has been mounting beyond its Montreal roots and venturing into the markets of the United States.